08 April 2013
From 6 April 2013, the Cheshire, Derbyshire and Dunfermline Building Societies, part of the Nationwide Group, are launching a new branch-based cash ISA – Easy Saver ISA.
Easy Saver ISA (Issue 1) is open to any saver through any Cheshire, Derbyshire and Dunfermline Building Society branch. The account pays a competitive 2.25% AER* tax-free variable, which includes a fixed introductory bonus of 1.75% until 31 October 2014. The Easy Saver ISA also allows unlimited withdrawals and deposits (subject to ISA allowance).
Easy Saver ISA (Issue 1) allows new cash ISA subscriptions only with a minimum opening balance of £1. Maximum balance is £5,760 (the 2013/14 cash ISA limit).
Richard Marriott, Nationwide’s head of savings, said: “With the cash ISA allowance increasing again in the new tax year, it is important to save as soon as you can so that you can earn interest as early as possible. Our Easy Saver ISA offers people the chance to start early and maximise the return on their savings.
“In addition, Easy Saver ISA offers savers instant access to their funds as we understand that, in the current climate, people want the peace of mind that is associated with having immediate access to their money.”
Notes to editors:
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
RATES FOR EASY SAVER ISA (ISSUE 1), EFFECTIVE FROM 6 APRIL 2013
|EASY SAVER ISA
||AER / tax-free variable (inc bonus
||AER / tax-free variable (exc bonus)
Easy Saver ISA includes a 1.75% fixed introductory bonus rate until 31 October 2014. After this date it reverts to a variable rate, currently 0.50% AER tax-free.
||EASY SAVER ISA (Issue 1)
||Unlimited, subject to annual cash ISA allowance. New subscriptions only, no transfers in or consolidations allowed.
|Min. opening balance
|Min. operating balance
||Derbyshire and Dunfermline: paid annually on 30 September
Cheshire: paid annually on 31 December
The Cheshire, Derbyshire and Dunfermline Building Societies are Trading Divisions of Nationwide Building Society.